StatewhichofthefloatingchargeswilltakepriorityifMillyLtdisliquidated 

Asaminimum,howmanymembersmustapubliccompanyhave? 

A 1 

B 2 

C3

WhichofthefollowingMUSTbecreatedusingadebenturetrustdeed? 

A Asingledebenture 

B Debenturestock 

C Seriesdebentures 

D Registerofdebentureholders 

Whichofthefollowingstatementsregardingordinarysharecapitaliscorrect? 

A Dividendsmustbepaidonordinarysharecapitaleveryfinancialyear 

B Onliquidationofthecompany,ordinarysharesentitletheshareholdertohavetheircapitalrepaid aheadofothercreditors  

C Ordinarysharesmayormaynothavevotingrightsattached 

 IdentifythetypeofchargethatwascreatedoverMillyLtd'stradereceivables 

WhichTWOofthefollowingareadvantagesofusingadebenturetrustdeed? 

(1)Thedeedcreatesachargeorchargesoverthecompany'sassetswhichcreatessecurity 

(2)Asingletrusteeofthedebentureholdersisappointedsothecompanyonlyhastodealwithone person 

(3)Debenturescoveredbyadebenturetrustdeedhaveahigherpriorityofrepaymentonliquidationthan debenturesnotcoveredbyadeed 

(4)Theprocessofsellingadebenturecoveredbyadebenturetrustdeedissubstantiallyfasterthanthe processofsellingadebenturenotcoveredbyadebenturetrustdeed. 

A 1and2 

B 1and4 

C 2and3 

D 3and4